Rivian's recent quarterly production and delivery numbers are higher compared to the same quarter last year, this is related to buyers trying to get ahead of the electric vehicle tax credit that is ending but the management team downgraded its outlook for 2025 delivery guidance range to 41,500 to 43,500 vehicles. Rivian reported production of 10,720 vehicles and delivered 13,201 vehicles, the previous year being 10,018 delivered vehicles. Ford's CEO expects the share of electric vehicle sales to fall by half with the expiry of tax credits because people will be producing cars that buyers actually want. Therefore, Rivian is a stock to hold but not to buy until they are able to produce and sell a model for $45,000 and have a capacity utilization and cash flow from operations. The target price is $10 with fail bound at $20.